Dow Jones futures traded flat near 45,900 during European hours on Tuesday, ahead of the United States (US) market open. The S&P 500 futures advanced 0.20% above 6,600, while Nasdaq 100 futures edged up 0.32% to hover near 24,400. Investors now await the US Retail Sales data for August, due later in the day, which could provide fresh insights into consumer spending trends.
Fed expectations in focus
US stock futures showed mixed moves but reflected improved sentiment ahead of Wednesday’s Federal Reserve (Fed) policy decision. Markets widely expect the Fed to cut interest rates by 25 basis points at its September meeting, though a smaller chance of a 50-basis-point cut remains priced in.
Wall street recap
On Monday, the Dow Jones Industrial Average gained 0.11%, while the S&P 500 rose 0.47% and the Nasdaq Composite added 0.94%, both setting new record highs. US equities were buoyed by optimism after Washington and Beijing reached a commercial agreement to place TikTok under US ownership. Final approval is expected following a call on Friday between US President Donald Trump and Chinese President Xi Jinping. Trump later posted on “Social Truth” that the “big Trade Meeting” went “VERY WELL!” and emphasized strong US-China relations.
Stocks in focus
Among individual movers, Nvidia slipped 0.04% after Chinese regulators accused the chipmaker of breaching anti-monopoly rules. Shopify advanced 3.2%, extending recent gains, while Tesla rallied 3.6% after CEO Elon Musk disclosed the purchase of 2.6 million shares worth roughly $1 billion on Friday.
